Generalized System of Preferences (GSP) trade program renewed

On June 29, 2015 the President signed the Trade Preferences Act of 2015, renewing the GSP trade program, along with the African Growth and Opportunity Act (AGOA), and the Haiti preference programs. GSP, which previously expired on July 31, 2013, promotes economic growth in developing counties by providing duty-free entry for many products from selected countries and territories.

GSP was reauthorized with retroactive effect. Importers of GSP-eligible products may seek reimbursement for tariffs paid since its expiration in July 2013. Importers who paid duty on GSP eligible goods, and filed their entries electronically using the appropriate GSP indicator ("A", "A*", "A+"), should be automatically refunded. The refund process should be monitored to ensure liquidation or re-liquidation. If no liquidation/re-liquidation is initiated by November 1, 2015, importers should file a formal refund request by the December 28, 2015, deadline.

Importers with entries made without using the GSP program indicator should contact the port where the goods entered and request their GSP status from US Customs and Border Protection (CBP). The deadline for retroactive refund requests on entries without the GSP indicator is December 28, 2015.

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